Nordea Investment Management AB Maintains Stake in Masco Corp. (MAS)
Nordea Investment Management AB held its position in shares of Masco Corp. (NYSE:MAS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,834 shares of the company’s stock at the end of the second quarter. Nordea Investment Management AB’s holdings in Masco Corp. were worth $4,543,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Capital Fund Management S.A. raised its stake in Masco Corp. by 3,980.9% in the second quarter. Capital Fund Management S.A. now owns 1,062,175 shares of the company’s stock worth $32,864,000 after buying an additional 1,036,147 shares during the last quarter. Anchor Bolt Capital LP bought a new stake in Masco Corp. during the first quarter worth approximately $47,731,000. Hermes Investment Management Ltd. raised its stake in Masco Corp. by 0.8% in the second quarter. Hermes Investment Management Ltd. now owns 640,346 shares of the company’s stock worth $19,812,000 after buying an additional 5,200 shares during the last quarter. Geode Capital Management LLC raised its stake in Masco Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 2,635,785 shares of the company’s stock worth $82,720,000 after buying an additional 19,254 shares during the last quarter. Finally, Huntington National Bank raised its stake in Masco Corp. by 2,859.0% in the second quarter. Huntington National Bank now owns 472,961 shares of the company’s stock worth $14,633,000 after buying an additional 456,977 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors.
Shares of Masco Corp. (NYSE:MAS) traded down 0.68% during mid-day trading on Tuesday, hitting $33.57. The stock had a trading volume of 1,874,536 shares. The company has a market cap of $10.95 billion, a PE ratio of 25.49 and a beta of 1.83. Masco Corp. has a 12 month low of $23.10 and a 12 month high of $37.38. The stock’s 50-day moving average is $34.13 and its 200 day moving average is $33.12.
Masco Corp. (NYSE:MAS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company earned $2 billion during the quarter, compared to analysts’ expectations of $2 billion. Masco Corp. had a return on equity of 780.00% and a net margin of 6.12%. Masco Corp.’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, equities research analysts forecast that Masco Corp. will post $1.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, October 12th. This is a boost from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s dividend payout ratio is 30.53%.
A number of equities research analysts recently commented on MAS shares. Jefferies Group increased their price target on Masco Corp. from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. TheStreet raised Masco Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Credit Suisse Group AG reaffirmed a “buy” rating and set a $34.00 target price on shares of Masco Corp. in a research report on Wednesday, June 29th. Bank of America Corp. initiated coverage on Masco Corp. in a research report on Friday, September 23rd. They set a “buy” rating and a $41.00 target price for the company. Finally, Zacks Investment Research raised Masco Corp. from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, October 4th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $35.53.
In other Masco Corp. news, VP Kenneth G. Cole sold 3,609 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $37.23, for a total value of $134,363.07. Following the completion of the sale, the vice president now owns 79,192 shares in the company, valued at $2,948,318.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard A. Manoogian sold 44,008 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $36.68, for a total value of $1,614,213.44. Following the completion of the sale, the director now owns 818,711 shares of the company’s stock, valued at approximately $30,030,319.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Masco Corp. Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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